Korea EximBank to Invest $7 Mil.in Overseas Development Project

Korea EximBank said on October 1 that it would make a US$7.15-million investment in a hydroelectric power generation project on the Semangka River in Indonesia.

The project is currently undertaken by the POSCO Engineering consortium.Including loans and guarantees, the state-run bank will support a total of $132.9 million in a project financing deal. This is the first time for the bank to make a stake investment in overseas projects after revision of the export-import bank law in January this year that relaxed the restrictions on stake investment.